Rounding after amendment to VAT Act

The financial administration published information intended to solve the long-standing uncertainty regarding the correct calculation and subsequent rounding of VAT. The new rounding rules have been approved via the last amendment to the VAT Act, in…

Amendment to VAT Act for 2020 (quick fixes): new developments in Brussels

The European Commission has published extensive draft explanatory notes on quick fixes. These include examples of how to declare changes in customers or refunds of goods within consignment (call-off) stocks in EC Sales Lists and new stock records,…

New calls to participate in EIC OP also available for large businesses

September has brought new calls to participate in the Enterprise and Innovations for Competitiveness Operational Programme (EIC OP), consisting of the Potential, Innovation, and Application Programmes. Subsidies will also be available for large…

Update on amendment to VAT Act for 2020 (quick fixes)

An extensive amendment to the VAT Act for 2020 (quick fixes), aiming to harmonise the VAT regime applicable to intra-community supplies of goods, has been submitted to the Chamber of Deputies. It implements the EU legislation and, therefore, within…

Amendment to electronic reporting of sales and 10% VAT on food services and e-books

At the end of September, the president signed an amendment to the Act on the Electronic Reporting of Sales (ERS), based on which the remaining businesses and entrepreneurs so far omitted from the obligation will be subject to the mandatory…

Quick fix revolution at hand. What will affect companies the most?

In a couple of months, intra-community supplies will undergo radical changes to the VAT regime, probably the most significant ones in recent history. The mechanism of applying VAT on consignment (call-off) stock arrangements will change entirely:…

Cross-border transaction reporting duty is heading to Chamber of Deputies

An amendment to tax legislation for 2020, also covering the implementation of DAC 6, is heading to the Chamber of Deputies. It introduces a new information duty regarding cross-border arrangements. The latest draft amendment includes new changes…

Clearer outline of tax on selected digital services

The Ministry of Finance has prepared a digital service tax bill, proposing a tax rate of 7% on selected digital services. Entities liable to this tax will be companies included in corporate groups having a worldwide turnover of more than EUR 750…

Stricter rules for investment incentives in effect

An amendment to the Act on Investment Incentives has been promulgated in the Collection of Laws and will enter into effect on 6 September 2019. According to the amendment, projects will be subject to governmental approval. Without it, investment…

2018 through the eyes of the Ministry of Finance

What was the last tax year like according to financial administration officials? The published statistics show interesting figures and facts: In 2018, the financial administration completed, among other things, 32 577 tax inspections and procedures…

GFD sheds light on application of VAT on vouchers

The General Financial Directorate (GFD) issued its Information on the Application of VAT on Vouchers, clarifying the application of value added tax on various types of vouchers and illustrating tax implications on several examples from practice.

One step closer to efficient resolution of disputes arising from interpretation of…

The governmental bill on international cooperation in resolution of tax-related disputes in the EU has been submitted to the Chamber of Deputies. The bill responds to the necessity to implement the EU Directive on tax dispute resolution mechanisms…